Category: Oil & Gas

SPDC JV Opens Animation Academy for Niger Delta Youths

Efe Wellington

ENERGY company, The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC joint venture, has opened an animation academy in Port Harcourt, Rivers State, for practical training of youths in 3D animation, look development and visual effects. “The academy is primed to support in closing identified gaps in knowledge and skills that will enable Niger Delta youths to participate fully in the new opportunities that are now available in digital technology,” SPDC’s Director and Country Head, Corporate Relations, Igo Weli, said at the inauguration of the academy…

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Russia: EU Courts Nigeria, Surges Demand For Country’s Gas

ADEOLA YUSUF

EU Ambassadors in Nigeria Visits NNPC, seeks increase in Liquefied Natural Gas (LNG) supply   The European Union has, “as a result of the current geopolitical situation in Europe,” courted Nigeria for an increase in demand for the country’s gas. Platforms Africa reports that European Union (EU) Ambassadors in Nigeria on Monday paid a courtesy call on the Management of the Nigerian National Petroleum Company (NNPC) Ltd, seeking to strengthen its partnership with Nigeria in the energy sector. READ ALSO: Russia Shuts 1.4m bpd Exports Pipeline, Worsens Oil Prices Surge…

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Nigerian Parliament Indicts Agip, MTN, Glo, Others of Tax Evasion

Ayobami Adedinni

Globacom, Airtel, 9Mobile and co. Here are names of companies the House of Representatives Committee on Public Accounts found questionable for tax offenses    The Chairman of the House of Representatives Committee on Public Accounts, Oluwole Oke has accused some firms operating in Nigeria of evading tax. Speaking while receiving the Minister of Industry, Trade, and Investment, Otunba Niyi Adebayo, on Thursday, Oke said that several companies operating in the country were in the habit of not paying statutory taxes to the government, causing a revenue shortage for the operation…

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$38m Racket Lands Oil Firm, Marine Assets and Offshore Ltd., In Trouble

Aliyu Aliyu

Court Okays EFCC’s probe of the oil company and others, says suit instituted by the company and its General Manager, Olusegun Olaleye, lacked merit   A Federal High Court in Abuja, has dismissed a suit by oil and gas services firm, Marine Assets and Offshore Equipment Limited, to stop its investigation by the Economic and Financial Crimes Commission (EFCC). Justice Bolaji Olajuwon, in a judgment, said that the suit instituted by the company and its General Manager, Olusegun Olaleye, lacked merit. Olajuwon held that there was no merit in the…

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Shell, AFC, GTBank, 6 Other Banks Drag Aiteo to Court Over $2bn Debts

ADESUPO OSOSANYA

The bickering between a group involving Shell, Africa Finance Corporation (AFC), and seven Nigerian bank, and Aiteo Eastern E&P Company Limited over $2 billion loan accessed by Aiteo has degenerated. A high court in England has ruled that Shell Plc, Africa Finance Corporation, and seven Nigerian banks have established their right to block Aiteo Eastern E&P Company Limited from taking legal action when a suit initiated by them against the oil firm has not been resolved. The verdict approving the “final anti-suit injunction” was delivered on April 1, according to…

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Shell Pays $6bn As Tax To Nigeria In 5 Years

Efe Wellington

Shell has been recognised as Lead Tax Compliant Firm in Nigeria With payment of $6 billion in direct taxes in the five years the Federal Inland Revenue Service, FIRS has named Shell as a “leading tax compliant organisation in Nigeria for 2021.” Platforms Africa reports that the award ceremony in Abuja last week was a part of the second annual National Tax Dialogue, where Shell companies in Nigeria also won the award for ‘remarkable performance in the remittance of various taxes’ in the same year. The Shell Petroleum Development Company…

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OPL 310: Lekoil Limited Rejects Lekoil Nigeria’s £.9m Loan Deal

ADEOLA YUSUF

The crisis between Lekoil Limited and Lekoil Nigeria has degenerated as the former said it outrightly rejected the offer by the latter to purchase loan in the Oil prospective License (OPL) 310. Platforms Africa reports that Lekoil Limited has earlier secured Savannah Investment’s GBP.9m Loan At 5%/Annum Interest for the deal, a move that was stopped by Lekoil Nigeria through the Court. Lekoil Limited, however made its rejection of the OPL 310 loan by Lekoil Nigeria known in a statement, maintaining that the offer is incapable of acceptance without the…

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N19bn Petrol Imported Into Nigeria Did Not Get To Destination

Aliyu Aliyu

116.46m litres fuel Stolen in One year, say NNPC reports + BREAKDOWN N19 billion worth of Premium Motor Spirit (PMS) generally known as petrol imported Into Nigeria did not get to the final consumers in the countrt, its intended destination. The product, which translated to a total of 116.46 million litres (worth N18.88 billion) was stolen in 2021, data from different reports obtained from the Nigerian National Petroleum Company Limited showed. Figures contained in various NNPC reports on Product Pipeline Performance for PMS showed that from January 2021 till December…

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BREAKING: U.S., EU Strike Energy Deals Against Russian Gas

ADEOLA YUSUF

. U.S., European Commission create Task Force, Share objective of addressing energy security emergency in Europe + FULL STATEMENT   The United States and the European Commission said that they struck a committed to reducing Europe’s dependency on Russian energy. Platforms Africa reports that this was contained in a Joint Statement between the European Commission and the United States on European Energy Security. “We reaffirm our joint commitment to Europe’s energy security and sustainability and to accelerating the global transition to clean energy. In condemning in the strongest terms Russia’s…

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FAPEF Names Adeola Yusuf Panelist for Africa Economic, Financial Forum

ADEOLA YUSUF

Team Lead of Platforms Africa, Adeola Yusuf, joins Rym Ayadi, Prof of economics at Business School, City University of London; Koffi Ange Houngbedji, Senior Analyst at African Development Bank (AfDB); Idriss Linge, Rédacteur en Chaf de l’Agence Ecofin and others as speakers in Abidjan for FAPEF confab   The Team Lead of Platforms Africa, Adeola Yusuf, has been named a panelist at the First African Forum for Economic and Financial Journalism (FAPEF) conference in Abidjan, economic capital of Ivory Coast. Adeola Yusuf, one of the most decorated, award-winning financial journalists…

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